UAE: Marsh receives Abu Dhabi's first captive insurance management licence

Source: Middle East Insurance Review | Jan 2019

Global insurance broker Marsh has been awarded the first licence to provide captive insurance management services in Abu Dhabi.

The services will be provided by a subsidiary, Marsh Management Services (MENA). This firm has been authorised to provide captive insurance management services by Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority (FSRA).

“Abu Dhabi aims to play a pivotal role in meeting the growing financial, insurance needs and requirements of the region, while connecting and strengthening links between the financial markets of Europe, the Middle East, Africa and Asia,” said Mr Ronny Vellekoop, senior executive officer, Marsh.

Mr Richard Teng, CEO of FSRA said ADGM will “continue to strengthen its captive insurance regime to provide users with strategic risk management and financial solutions to support their business ambition and growth locally and globally”. M

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